Tax & Legal Update
Amendment to the Labour Code (part 1): at least 160 hours of vacations for all
An extensive amendment to the Labour Code has been on the deputies’ agenda since January. In the upcoming issues of Tax and Legal Update, we will summarise for you the amendment’s major changes. In the first of a series of articles, we will look…
Labour Inspection Office focuses on concealed mediation of employment – CZK 10…
The fact that illegal work is closely watched by the Czech Labour Inspection Office is nothing new for employers. ‘Svarc’ systems (where workers formally maintain a self-employed status while in fact carrying out dependant work) or the employment of…
Municipal Court in Prague: tax returns declaring lower tax may not be filed after…
The deadline for filing an additional tax return is the end of the month following the month in which a taxpayer learned that the tax concerned had been determined incorrectly, irrespective of whether an additional tax return declares a lower or…
New CRD and CRR
The Ministry of Finance has prepared a bill implementing the CRD V directive and CRR II regulation. The new EU legislation brings changes affecting mainly the banking sector as it revises the rules of capital adequacy and capital reserves and…
Unexpected CJEU judgment: commissionaire structure application
In Case C-707/18, regarding Romanian law, the Court of Justice of the EU (CJEU) dealt with an issue concerning the purchaser who in their own name and at their own expense ensured administrative acts necessary to complete a sale of plots of land.…
Ministry of Finance income tax plan for 2021
2020 has just begun, but two new amendments to the Income Tax Act for 2021 are already being discussed. The ministry is planning to introduce a lump-sum tax for selected individuals, monetary contributions for employee meals and the cancellation of…
Transfer prices targeted by auditors
January is traditionally a month in which KPMG’s tax department becomes involved in the examination of the financial statements of its audit clients, as transfer pricing may be associated with significant tax risks. Our audit teams assess these…
Application of beneficial ownership and anti-abuse principles in the EU
Courts across the EU have been inspired by the so-called Danish judgements of the Court of Justice of the EU, and so some national courts’ decisions on the taxation of dividends and interest payments received by holdings have followed the beneficial…
VAT on fuel cards to be affected by CJEU case law
Fuel card transactions are operated all across the EU. Therefore, some new measures being implemented in just some of the member states might be problematic. Hence, most EU states are still reluctant to apply the Court of Justice of the EU’s…
Brexit from a Czech immigration law perspective
With the last day of January, the never-ending story of Brexit finally ended. The law implementing the withdrawal agreement was passed by the Parliament of the United Kingdom of Great Britain and Northern Ireland early this year and signed by Queen…
Government (not) approving investment incentives
Three applicants for investment incentives were denied financial support to acquire fixed assets by the government. Applications for the support of strategic investment projects were submitted by investors under the previous legislative regime. Aid…